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CNBC
Aug 16, 2009 7:30pm EDT
. >>> so the big news this week is not so much what the fed did, but what it said. and joining us now to help interpret that and where the markets and the economy may be going next, mike cuggino is manager of the permanent portfolio funds with more than $4 billion in funds, and diane swonk who is chief economist at mesirow capital. diane, what the fed said is that financial conditions are leveling out and further financial conditions are improving further. do you agree? >> i agree. they are leveling out and they certainly didn't say they were soaring ahead, did they? >> no. >> well, saying we are seeing some cross currents in the economy, and good news and bad news. the armageddon scenario is behind us, but we are moving into an economic recovery, but it's very fragile and will be a rocky recovery at best. so the fed left the door open, the backdoor open to continue its quantitative easing, if necessary, and expand the balance sheet, although i it would like as we continue into move into 2010 to reduce the balance sheet and not raise the rates for quite a while, but certainly accommod
CNBC
Aug 3, 2009 4:00am EDT
bosses are faring. up 6.1%. the ftse in terms of percentage had its biggest gain. using 4600 as a flaw. the dax being the outperformer up 0.8%. cable trading 1.67.. >>> let's move on and look at some of the asian stories with chloe. good morning do you have. >> good morning, steve. approximate we had a strong session for a monday. a lot of optimism that the growth picture in asia is very much on the way, bolstered by the pmi numbers out of china. a lot of green, as you can see, with an exception of the nikkei. a tad lower, but hanging above that 10,000 level. the south korean kospi pulling ahead by half a percent, setting the tone for the rest of asia for the month of july. look at the numbers, actually down for the month, 20%. still better than expected. over in the greater china market, more news. the hang seng up by 1.1%. investors getting a lot of conviction over those pmi numbers. the bombay sansex also higher by half a percent. it will be about the job numbers we get out of the u.s. later this week. >>> nymex light sweet crude processed $70 per barrel. gaining ground by more than
CNBC
Aug 19, 2009 4:00am EDT
-ed opinion piece in the "new york times" saying that the u.s. continues to need that stimulus, do everything that's important right now, but they have to keep an eye on the future, he says. estimate ewe husband and the net debt of the country is growing at 1 percentage point per month and that's something to worry about long-term. we'll talk more about that in a moment. taking a look at bond, the 10-year bund at this point trading down right now. the yield is lower at 3.27% ahead of the boe minutes which which are due out in the next hour. and also we've got the ten-year note here down to 3.45% having rallied at this point yesterday. taking a look at gold with a bit of dollar strength this morning, we are seeing a bit of gold weakness just a skosh, off 0.4% down about $3.85. joining us now is ivan mamale and simon grose-hodge in lichtenstein. simon, i want to start with you. in your notes, you say essentially the data that everyone has been pinning their recovery hopes on is starting to plateau. i'm wondering if you see the markets kind of in that same sort of stall pattern heading here into
CNBC
Aug 17, 2009 4:00am EDT
there looking?g? >> not too well, rebecca. as you know, asia is not getting a chance to react to the u.s. confidence data coming out on friday. a sell-off in the region. the kospi down 2.8%. the economy did nothing to lift the shang hang market. the hang seng down 3.6% and the sensex 2.3%. in terms of nymymenymex, down a. brent should be lower as well following it. brent is trading around the ranges of $70.95 a barrel. bertha, please give us some good news. >> christine, we seem to be taking our tone from you. the market looks to extend losses. futures well below fair value. we'll get another read on consumers. earnings from lowe's and data later from housing from the national association of realtors. those are likely to weigh on the markets. we've got dow futures 120 points or so below fair value. nasdaq futures well below. s&p futures as well. taking a look at the bond market, we are seeing a move to safe havens, the yields lower. the guild in london, a record low yield. the ten-year bund at 3.3%. the ten-year note here. we are going to hear from ben bernanke at the end of the week. th
CNBC
Aug 13, 2009 4:00am EDT
in the u.s. the retail sector is in focus today as walmart posts second quarter results. >>> hello and welcome to cnbc's "worldwide exchange." so global equities trying to be firmer. the ftse cnbc 300 is up 21 points. we managed to get a positive close in wall street. european stock markets had a bit of a boost here this morning with the growth numbers out of france and germany. we're going to get the eu whole number coming out in a while. the ftse 100 up 0.8% as well as the xetra dax. cac 40 up 0.7% and smi up 0.5%. what happened this morning, the growth dmeft irk numbers up 0.3% in germany. it's down on a comparative basis, 7.1% less than where we were standing for growth a year ago. but quarter on quarter, it was positive. that helped the euro extend some gains against the dollar this morning. euro/dollar up to 1.4245. dollar is firmer against the yen and sterling rebounded, as well against the greenback. >> those upbeat comments from the fed gave markets here enough region to cheer. markets gaining higher in asia, for instance, the nikkei 225 up 0.8%. the kospi marginally lower
CNBC
Aug 31, 2009 4:00am EDT
. no brent, we don't have brent, but it should be pulling, as well. mike, over to you in the u.s. how are you today? >> thanks, christine. doing well, thank you. hope you are too. and we're about 5 1/2 hours away from the opening bell here in the united states. and we do have the futures pointing toward a lower open across the board. basically investors doing a read through from what's going on in asia and china and barring a major meltdown in the stock market today. nonetheless, this could be the best stock rally, the best six-month rally, that is, since 1933. moving over to the treasury markets, even though we did see that slight selloff in the stock market on friday, we did see the price go up and the yield come down. that's continuing today at 2.3%, but maybe a pronounced selloff if we move on to the ten-year tee note. right now we have the yield pulling in again just a little bit at 3.4%. as far as gold is concerned, it did go up 1% in friday's trading, and it might be oil price related, christine was just talking about and also inflation fear-related, but we did see the price holding st
CNBC
Aug 21, 2009 4:00am EDT
morning, good day or good evening depending on where you are. if you take a look at the u.s. futures, remember, you have a three-day winning streak as we closed out on wall street. a little bit of strength in the futures if you take a peek at the fair value here today. the dow, nasdaq and the s&p, little change in the fair value. if you take a look at the bund in germany, first we'll take a look at the ten-year bund. set the peace. 3.27% is the yield there and you go home with, viola, 3.42%. we'll call it 20 basis points in your pocket. and the price of gold at this time of the day is going to sell for $940 an ounce. little changed on the session. becky, take it away. >> i want to get back on those euro zone august flash services pmi. it was a reading of 49.5, that is a significant increase from july. still, just fractionally below that 50 par level, if you like, and well ahead of the forecast, as well. 46.5 was what the analysts were looking for there. manufacturing pmi, again, 47.9. ahead of forecasts, ahead of the previous month, but still below that par level by just a fraction.
CNBC
Aug 28, 2009 4:00am EDT
of losses as investors wait for the new uk growth data. >> and in the u.s., a top fed official says the central bank will likely exit its current monetary stance next year, but a rate hike is still a ways off. >> hello and welcome to cnbc's "worldwide exchange." we'll kick off with the global equity session right now. the ftse cnbc global 300 is 22 points higher. we had the european markets yesterday down some 21 points or so, but we've reversed that an hour into trade right now. this is where we currently trade. the ftse 100 up nearly 0.5%. the dax up 0.835%. cac up 0.8%, as well. the dollar is trying to make gains today, as well. dollar edging back to 94 against the yen. euro/dollar, 1.4331. sterling/dollar, 1.6282 after getting below 1.62 and euro/sterling on that 0.88 mark. christine, good to see you. >> hey, ross, good to see you. happy friday. here in asia, increased confidence from the global economy helped to pull stocks higher, but not the picture we're seeing in shanghai right now. this particular market ending lower 279%. that dragged down the hang seng, as well, down 0.7
CNBC
Aug 12, 2009 4:00am EDT
with a surprise loss in its banking division. >> i'm bertha coombs in the u.s. expectations are growing. federal officials say an economic recovery is still taking shape, there are still dangers. >> health low and welcome to cnbc's "worldwide exchange." global equities a little softer today as we go through the european open. the ftse cnbc global 300 down 0.5% one hour into the european trading session. stocks have gone for a dip today. but if we pull up the european bourses for you, we'll show you exactly where we stand. there we go. off 0.5%. ftse 100 off 0.5%, xetra dax off 0.16% cac 40 off more than 0.3%. dollar/yen 9 5.24. euro/dollar, under pressure. down to the low 1.41. big day for sterling today. the bank of england quarterly inflation report in an hour and a half where we hope to get more understanding of why the bank thought it necessary to extend its quantitative easing program. christine. >> hey, ross. here in asia, you mentioned software markets are very soft here today as investors brace for what the fed will say in its statement. nikkei 225 off its ten-month highs, down 1.4%. kos
CNBC
Aug 28, 2009 8:00pm EDT
and limited government that spur our economic growth over a period of time can be used to help out on the health care reforms. why not put these market principles to work? health care by the way is one of america's greatest industries and job creators. if we leave it alone and don't stifle it with a government takeover, health care will help us get a big prosperity boom in the next five to 10 years and longer. that's my take. i want to turn it over to my great friend, mary thompson, on "cnbc reports." mary, you're talking about the great recovery. >> we have a great show ahead, larry. thank you so much. "cnbc reports" starts right now. >> tonight on "cnbc reports." the bulls take a break and the bears win the day but there are several big names that have been down in the dumbs making a comeback now. on that list, aig. look at this chart. up 275% in a month. what's making this stock jump? fannie, freddie, bank of america, citigroup also making moves. in depth on the widely held stocks on the st. if almost everyone else owns them, shouldn't you? what we will learn from the kua kuants
CNBC
Aug 20, 2009 4:00am EDT
a frangz at $942.95. joining us this morning to talk about what's been going on in these markets, quite a roller composter week so far. martin dean marnek and alexis dewann fund manager at global cap xa. alexis, i want to start with you. it seems as though these are the unsyncopal markets. everyone has been saying there is a lot of money on the sidelines. it seems every time we have a dip, folks come back in and put a floor on the market. is this sustainable? >> i think you're right. there's tons of money out there, especially in the money market funds. bur yeah, almost when you look at the big systemic risk, it's off the table currently. you look at indicators and ted spreads are trading at the same levels they used to at the beginning of the credit crisis. so this is encouraging. the problem is on the economy and is it sustainable. it's interesting to see that most of the of the revenues from the company were slightly below expectation, although most of them beat on the earnings line. through a lot of cost cutling and a lot of layoffs. that may not be good for unemployment going forwa
CNBC
Aug 4, 2009 4:00am EDT
's been the last 24 hours or so at 3.33%. u.s. yields here moved fairly high yesterday as we saw a bigger appetite for risk and a lot of folks moved out of the bond fixed income market. we've got the ten-year notoriety now at 3.63% and gold at the moment not attracting too much of a bid, either, with a lot of folks continuing to have that appetite for risk. credit teen. >> bertha, joining us now for market strategy, we have christian baberg market strategist glaxo bank and hopefully we will have steven teich later in the show. christian, do you think markets are too optimistic? >> yes, we do think so. if you look at what's going on in markets right now, markets are pricing in that consumers will start a pick up in demand. namely, that inventory to a certain part will have to be refilled. but from that point on, markets are pricing in a huge pick up in consumer demand and quite frankly, we've had some difficulty seeing where it's coming from. because if you see what consumers are doing, especially in the united states but also in europe, there are savings more now, the savings rate in the
CNBC
Aug 26, 2009 3:00pm EDT
if there's a backlash against that. phil lebeau, thanks so much for joining us. and you heard it first on "street signs," the demi-ashton indicate or. sanjay kapoor told us to look to invest in countries that have an older population like demi moore over a younger generation like ashton kutcher. well, it turns out the hollywood power couple watched them and they weighed in on the demi-ashton ratio via twitter. here are the tweets between the couple. ashton says to demi, "i love that we've become the demi-ashton ratio. lmao. you can figure out what that means on your own. it seems that i'm now a control factor in the markets. he goes on to say that -- this is ashton. "i love that i'm described as the beer-drinking party boy with no cash." i guess he feels like he's done a few things recently to make some money, and probably rightly so. but that's pretty funny. they're watching "street signs." let's take a look at the markets here as we get into the close. we were just barely in positive territory. at last check the dow has now turned negative just in the past few minutes. it's essential
CNBC
Aug 10, 2009 4:00am EDT
>>> here in new york, markets taking a breather. commodity stocks and banks seeing -- >> in the u.s., state of wall street's rally could hinge this weekend on data on the consumer and the outcome of the fed meeting. >>> welcome to cnbc's worldwide exchange. we'll start out with a look at the global session at the beginning of the week. down six points. good session as we heard in japan in japan in particular today. nick kay off ten-month highs. one hour into their trading week taking profits from the ten-month highs we closed in at on friday. household goods, construction, weakest sectors at the moment.t. dollar is trying to retain most of its gains. lost a little bit of ground to the yen.n. still 97.40. ua dollar 141.89. bank of england's meeting last week and u.s. selling 85.33. nice to see you. >> hey, nice to see you, too. hope you had a good weekend. in asia, nice start to the week. duty optimism of the u.s. jobs on friday. fueling optimism. u.s. could lead the world into a recovery. that is providing support to the markets. ten-month high.. rise in machinery orders. first time
CNBC
Aug 11, 2009 2:00pm EDT
. read julia's books in your $250 t-shirt. that's it for us on "power lunch". thanks for joining us. see you tomorrow. >> president obama a new hampshire town hall they are not out of the woods yet, but he is seeing signs of progress. the u.s. economy has bottomed and the current quarter will see growth. the fed is beginning a wo-day policy set to release the latest on the economy and interest rates about 24 hours from now. that's c nbc news now. i'm jan epperson. >> i'm erin bush et and here's what wall street is talking b. american workers doing more more less and the market is down about 83 points on the numbers. america is still number one and stilt biggest manufacturer. the ceo bringing work back to shores from china. why is he doing it? reports greatly exaggerated. then gm's chevy volt is 230 miles per gallon. too good to be true. camel, the new cash cow betting on a massive new market here with us. >> stocking pulling back one month since the the rally. president obama in a town hall meeting in new hampshire sees signs business investment is coming back, but the economy is not out
CNBC
Aug 6, 2009 4:00am EDT
're not clashing. very interesting. a little bit of a pullback yesterday here in the u.s. we snapped a four-session winning streak. this morning, it looks as though the futures right now are looking to the upside. we've got dow futures up by fair value by about 30 points or so. nasdaq futures are a bit below, dragging down cautious comments coming from john chambers at cisco. he says he thinks the economy is turning the corner. there are questions about cisco's organization and how they're managing the company these days. as far as the bond market is concerned, today it's all about the fate of quantitative easing. we're waiting to hear from the ecb, the boe and, of course, we do have here in the u.s. the jobs picture that we're going to be watching. the ten-year bund is at 3.38% and we've got the ten-year note coming back down in terms of the yield. a little bit yesterday having reached a high of 3.76%. we now know how much the quarterly funding is going to be. we're going to see at least $23 billion in ten years next week being auctioned. gold is easing off despite the weakness in the cora
CNBC
Aug 14, 2009 4:00am EDT
's get on to our first guest of the show. joining us, paul day and makio camada from lgt capital. let's start by talking with, well, both of you about what's going on with this inflation/deflation picture. paul, let's start with you. do you believe we're in an inflationary or deflationary environment at the moment? >> well, i think that the inflation seem to be the ones that shout the loudest. my view is going forward for the next half of the year, deflation will be the big problem. it's something we've never seen in the west historically. so i don't think people have the perception of what deflation can do for the economy. if you look at the household deleverage, it's going to carry on going on in the united states. i feel that the deflation argument will continue. if you look at things, for example, the length of unemployment in the states seems at the highest level since 1958. we've got many, many mortgage resets coming along at a time when real bond yields are at their highest level since around 1994. i think we will have sluggish rates. >> paul, where do you stand? >> i think i m
CNBC
Aug 13, 2009 2:00pm EDT
there used to be. not to be indelicate, but when i was in college, not that i did, but i had friends who visited sperm banks to raise money for college. i have no idea what kind of money they got in those days. this is not a new development, but it is a lot of money. >> i feel as red as my sweater right now. i don't know why. >> walking down the street the other day, there was somebody just like you. he was 7 and he was just like that. we will see you tomorrow. >> what are shirt are we wearing. >> let's go white tomorrow. erin burnett with "street signs" begins in 30 seconds. >> air traffic controllers reached a tentative agreement with the obama administration that will hopefully end years of strained relations. berk shirt hathaway went to derivative holdings, but believes it is dialling the contacts fairly. they sold $15 bill whereon in 30-year bonds in an auction that was well-received. that's the news now, i'm sharon epperson. >> you are looking live where liz claiborne is among the stocks hitting 52-week highs, but as the bulls and bears are locked in a tug of war, we are flat for t
CNBC
Aug 11, 2009 4:00am EDT
loss for the second quarter. >> i'm bertha coombs in the u.s. the fed kicks off for a two-day meeting. >> hello and welcome to cnbc's "worldwide exchange." global equities are trying to nudge higher at the moment. the ftse cnbc global 300 is up 7 points this morning. an hour into trade, we have gains after slim losses yesterday. we hit ten-month highs on friday. we'll see whether we can finish back at the highs today. european stock markets one hour into the session, we're up 0.4% on the ftse 100. xetra dax up 0.6%. cac 40 up 0.6% and smi nearly flat. the chinese data shows below forecast factory expansion, as christine was talking about. dollar/yen, 96.85. euro/dollar, 1.4160. sterling/dollar is below 1.65 at the moment. euro/sterling is very much in the ranges. christine. >> here in asia, a positive showing across the board here. in china, we had that industrial production number arising for the month of july, but coming in below expectations. this particular data, really, the key focus. the nikkei 225 up 0.6%. the kospi up 0.2%. the bok kept rates steady there, as well. the shangha
CNBC
Aug 12, 2009 4:00pm EDT
results giving the home builders a boost.qú coming up, toll brothers ceo himself will give us his outlook for the housing market. here's how we finished the day. up side day we ended up the highs of the session but still up 1.27% on the dow. nasdaq the big gainers there the technology names. 1 1/2%. 28 points up side. and the s&p 500 the overall market up more than a full percent, 11 points higher. let's get more on today's action. bob pisani our eye on the floor at the new york stock exchange. hey, bob. >> hello, rebecca. as you mentioned, pretty much status quo on the fomc statement but a little bit of an upgrade on the economy talking about economic activity leveling out. that helped a little bit. let's take a look at some of the big movers. i'm with you, rebecca. i talked all day about toll brothers. the important thing is the company reported orders to buy homes increased 3.3% year over year. that's the first one in four years. one big reason was the cancellation rate only 8 1/2% that's magnitudes of orders better than the quarter before and the do quarters before. that's good news h
CNBC
Aug 18, 2009 4:00am EDT
about 0.9%. psychiatrist teen. >> hey, bertha. joining us now for market strategy, we have our panelist, david cosbow. and here in singapore, steven davis, ceo of javelin wealth management. steven, are you at all surprised at how big a role the shanghai market played today in dictating market direction here in data? is this a start of more to come? >> i don't think one should be at all surprised. i think the only thing that's a surprised is that it's taken as long as it has in order to have a relatively sharp, quick correction. i think overall, asian markets have all rallied extraordinarily strongly this year, and in particular, obviously, since their lows of march 9th. so it's inevitable that we're going to see a degree of profit taking, readjustment of portfolios, call it what you will. i think on a longer term basis, the outlook looks roently positive and certainly our view remains that one should be using bouts of selling pressure to accumulate a bit more on weakness. >> david, do you agree with what stephen just said? >> yes, i think china is definitely important. there's no -- and
CNBC
Aug 7, 2009 11:00pm EDT
domestically in the u.s., and have to look at the currencies, because those markets are telling you globally what's going on. why is it the dollar today rallied? that has been a different dynamic than what you have seen in the past. good news coming out of the u.s., and the dollar rallied? reason being we are looking at the u.s. in terms of growth being the first to come out of this. so the rest of the currencies are rolling over. all the money is coming here supporting the u.s. dollar. >> does that seen like a smart trade? >> absolutely it's a smart trade. >> that the u.s. is going to be the first one in the world to lead us out of this global recession? >> absolutely. >> we're not. >> right. >> i'd go to asia right now, not the u.s. >> and the bet is being placed on the dollar. which doesn't seem to make sense. >> i don't think -- china has a v-shaped recovery, they've had it already, but we're looking at the g-3. look at japan, the u.s., like at what the swis franc today. >> i think the dollar is more a result of a very crowded dollar if you think we're all recovering, but i think the dol
CNBC
Aug 21, 2009 3:00pm EDT
that was an important one he was watching, and he says that could mean that the technicals aren't going to take us much higher from here and that you could see some selling pressure come monday. still, the bull thesis remains. as the buck burns, things priced in dollars continue to reflate. we're seeing that also play out in the overall stock market side. on the fundamental side of the thesis, demand looks like it could potentially be improving. remember, earlier this week we got that very bullish inventory report, and john kilduff of mf global says that he's seeing some strength in the markets with stocks moving higher and also with the idea that perhaps really this is a genuine demand turnaround, that we are seeing some genuine strength in the markets. where we're not seeing strength is in natural gas. that is still on the weak side, rick, and it's more of a u.s.-centric story. natural gas versus oil. natural gas is u.s. oil, more world. back over to you in chicago, rick. >> well, thank you, rebecca. and it has been an unreal world in terms of treasuries this week. first of all, volume's been somewha
CNBC
Aug 24, 2009 4:00am EDT
'm courtney reagan. in the u.s., more dominoes could fall. more banks could go under before the current crisis ends. >>> hello and welcome to cnbc's "worldwide exchange." let's show you where the session currently is is. the ftse 300, 23 points dipped off the high for the session. european stock markets one hour into the trading day. after making three percentage points gains on monday, we're three points up again today as well. investors put more risk into the stock market. dollar-yen, 94.93. euro-dollar back from highs. cable knowledging back from the highs. euro/sterling, steady. christine, good to see you. >> here in asia, i'll call it the bernanke bounce after the optimistic comments from bernanke over the weekend. saying that the global economy could be coming out of the recession. the nikkei up 2.5%. the kospi, continuing to watch this climb. this market last week climbed sharply. still up 60% year to date. the sensex up 2.4%. overall a strong showing in asia. crude oil seems to be putting on gains, in hopes that a global economy is in order. light crude, $74 a barrel. brent is tacking
CNBC
Aug 26, 2009 2:00pm EDT
a maintenance company is responsible for using unapproved parts on some booing 737 jets. the parts will have to be replaced but are not a safety threat. u.s. say ways is raising its fees for a passenger's first checked back to $25. and huntington says it will continue to cut costs an raise prices, the strategy that let to better than expected profits. that's cnbc.com news now. >>> welcome it street signs. there are two hours left in the trading day and stocks hovering around the flat line. here is what the street is talking about. will we finally get a september to remember for all the right reasons? history tells us it's a brutal month for markets. could the downturn help us buck the trend? plus, drugs and deals. walgreen's and cal ter pillar creating a new solution to rising health care costs. is good old fashioned capitalism the answer to the health care crisis? and cash for cribs. how one retailer's new toy trade-in program could be more than child's play for the economy. all that plus stock trading with jim cramer. >>> first cold man sax in the line of fire for tipping off bigger client
CNBC
Aug 26, 2009 4:00am EDT
, as well, currently standing at $72.34. the weekly u.s. inventory reports coming out today, 10:30 new york time, a dow jones forecast is calling for oil to fall by 600,000 barrels, gasoline to drop by 1.1 million barrels and distillates to rise by 300,000 barrels. what does this wednesday have in store for u.s. stocks? for that, we'll check in with mike in the u.s. good morning to you, mike. good afternoon and thank you, maura. kind of an interesting move in oil after hitting $75 a barrel and closing lower. but here in the states, it looks like the dow, at least, could roll a lucky seven when the opening bell rings in, what, 5 1/2 hours from now? all of the three major indices pointing toward a higher open this morning. and interesting, i think worth pointing out, is that the nasdaq is up a whooping 660% off of the march lows. even with stocks moving higher yesterday, we saw the price of treasuries going up, as well. let's take a look at what the bund is doing this morning. we have the yield on the bund creeping up ever so slightly at 3.26%. the yield on the benchmark ten-year t-note here
CNBC
Aug 27, 2009 4:00am EDT
of analysts think gold is locked in a range new mexico after the united states labor day. >> joining us right now. we have our panel dibie and daniel. gentlemen, thank you very much for being with us. daniel, let me start with you first. a lot of risk aversion here in asia. how bumpy is the road ahead going to be for equities? >> i think it's going to be reasonably bumpy. valuations are clearly extend at about 9 1/2 times earnings. your risk/reward from these kind of levels is poor. back testing is a guide. also, i think there has to be concerns about the economic cycle here. it's clear that the u.s. consumer is doing nothing, that the spending is still very weak, both in the u.s. and europe and that is going to undermine the global economic cycle. and i think sentiment towards it could weaken in the months ahead and asian equities could drop 10% to 15%. >> we're getting news that china's sovereign wealth fund is looking to increase its joe seas by this year. surely, they must view that things are bottoming out. >> even at the six months horizon, the economic news flow will be very supportive
CNBC
Aug 7, 2009 4:00am EDT
course, is what's going to happen in the u.s. with that jobs report. so a little caution going on and profit going on ahead of that report. the nikkei 225 ended up 0.2%. the kospi up 0.7 ers. but take a look at the shanghai composite and hang seng. these are getting hit big time. there was talk about tightening monetary policy, government researchers saying china will not tighten policy before developed nations do so because it first needs a recovery in ex ports. still, a lot of investors are worried that's going to happen. in terms of oil, this is how it looks for nymex and brent. nymex light sweet crude is looking 67 cents lower, $71.29 a barrel and brent is trading lower, as well, $74.23 a barrel. looks like it's all about jobs here in asia. looking ahead to what you guys are going to give us, bertha. >> very big numbers, christine. very big expectations. the estimates range from about 320,000 jobs to goldman sachs which now says it thinks maybe we only lost 250,000 jobs, only. that's nothing to sneer at, however, that would be a significant drop-off in the rate of declines.
CNBC
Aug 10, 2009 2:00pm EDT
the free content. >> the one woman used to make $150,000 a year and down to $150,000 a year. frequency of appearances and payment for performance as well. >> absolutely.y. the top actors and actresses can make up to $2,000 per scene. there is a price tag. >> per scene, not per day. >> per scene. there is still an appetite for the top performaries, but there is a rash of the mediocre performers and not the ones who are the headline grabbers of a movie. those people just simply don't have that power in the economic times to get the wablg wages they used to get. >> before this really is much the same problem in the music industry has had. >> hollywood is -- people are not buying tickets and dvds. you can get them for free. the same for porn. >> you have to tune in because we are in the documentary that melissa hosted. the porn business of pleasure show at 10:00 p.m. eastern time. are the pigtails coming out of my head. >> no. we will see you on fast money. that's it for "power lunch". see you here tomorrow. "street signs" begins in about 30 seconds. general motors ceo said cash for clunke
CNBC
Aug 21, 2009 2:00pm EDT
. the big word he used was good. we haven't seen him use good for a while. after considering sharply, they appear to be leveling out in the united states and the broader protects chlg they appear to be good. they used the phrase "leveling without". he did with those as well. including additional loss and it is household credit being difficult. it will always lead it a slow recovery and a gradual decline. i want to show you the viewers with a couple of ideas that came out where papers are being presented. the economist and the studies of these 200 financial crisis and ones like this are likely to be returning to growth in 2010. that will be good growing, but getting back to the gdp levels. he warns if we have a currency crisis, it would take longer. one other interesting idea that came out today, i want to tell you about that. an ideom a former central basicer and all the excess reserves on the books, why don't we tax them if they don't lend them. he suggested a quarter point tax on the excess reserves so they are motivated to lend them to the e condition me. something he suggested he
CNBC
Aug 12, 2009 6:00am EDT
on policy and the federal reserve. >>> is the worst behind us? a growing number of the nation's top forecasters says the economy has already bottomed. today's market decision, the fed decision, trade data, a majority treasury auction and weekly mortgage applications. crude inventories, earnings from major retailers and much, much more as "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and carl quintanilla. the fed is set to wrap up a two-day meeting this afternoon. it has a policy statement that's expected at 2:15 eastern time. the central bank is widely expected to keep rates on hold for now even though a growing course of directors is looking for the fed to upgrade its comments on the economy. different economists say we could be nearing tend of a recession. the fed is expected to announce a program to buy $300 trillion in treasuries will come to an end in september. >>> a new survey of the nation's economists find ben bernanke should be reappointed to a new term as federal reserve chairman. mea
CNBC
Aug 26, 2009 6:00am EDT
morning, obviously, ann thompson of cnbc in hyannis port bringing us the news. john harwood is our chief washington correspondent and joins us in d.c. today. john, people are going to immediately turn, at least in the business world, to try and answer questions about what this means for the liberal agenda, business policy going forward. do you see any effects in the short to medium term? >> i doubt it, carl. you know, ted kennedy is, as that statement from barack obama said, the foremost legislator of this time. his career had incredible impact for decades. his family had an even greater impact for an even longer period of time. he's one of 60 votes in the senate. there are many like-minded senators. there are strong committee chairs trying to move health legislation and i think democrats will try to use the emotie emotional bounce and umph from this moment and the grief people are feeling to try to propel this initiative forward. but i don't see a very, very large impact in the short-term or the medium term. democrats are going to end up with another senator from massachusetts, whenever
CNBC
Aug 28, 2009 8:30pm EDT
>>> that's all for us on tonight's "cnbc reports." have a nice and safe weekend. here's options action with melissa lee. >>> welcome to options action, your front row seat to the front money. i'm melissa lee. here's where the action is tonight. im posters, aig and fannie have grabbed the headlines. it's the options activity that has the smart money excited. we'll tell you why. >>> christmas in december, one trade that could protect your portfolio up until december. she'll tell you what it is. >>> and dan and mike nail target they correctly call dell on earnings. >> i think they're poised to move just by the 15 call. >> now, we'll see who made the most money. options action begins right now. welcome to the show, great to have you with us. these are the options action traders at the desk at the home of the world's third largest market in the windy city of chicago and city of brotherly love, philadelphia. stocks closing off their lows but still break an eight-day winning streak, this despite upbeat news out of intel and dell. temporary rest stop or perhaps start of a correction. th
CNBC
Aug 8, 2009 6:00am EDT
walmart customers go back to those old upscale doors that they used to frequent but that they were visiting walmart only because of the current situation. so there's lots of down side here for walmart and there's not much upside. given this situation, if options prices were higher, i would normally want to sell a call spread to take advantage of that. but because options are so cheap, instead, i want to use the other side of that coin and buy a put spread. specifically, i want to buy the december 47 half, 42 half put spread. i can pay about $1.40 for the spread buying that 47 half put for $2.20 and selling the 42 half put for 80 cents. so that's a trade that i want to do. there are a couple questions that come about because of this. number one, if volume tirlt is so low, why do you want to sell that downside put? well, there are a couple of reasons. one, volatility. options produce is are not cheap. they're not free. i can cut this spread by about a third by selling that downside put. another question is why do this in december? well, i can put the same spread on in september for a
CNBC
Aug 7, 2009 2:00pm EDT
for changes and this is one of the little things. it's a little early, but the u.s. has not raised interest rates and won't until early next year. this strength has a lot of people talking with the stock market up. cyclicals, look at the rrlts and how strong they have been. there early signs and analyst chatter all this week. auto production may be increasing and that would be a positive for the railroad companies. we are seeing shipments increase a little bit. a modest increase as well. >> rick santelli, what is the market expecting in terms of interest rates and hikes and when. do you believe it? >> i'm not going to look at the marks and tell them the fed will expect you to do something at a date in the future, but what the markets are telling you is that data we received is pushing rates to a rate that could imply a market allocation to some extent. one day doesn't break that trend. bob is right. in terms of the treasuries, quite obvious. if you look at the guilt, the 10-year in the uk, maybe they are worse than we are. the tenure is unchanged and ours is up 40 basis points this week. i
CNBC
Aug 17, 2009 2:00pm EDT
story. that's your point. >> steve is going to be with us in a couple of moments to talk about the broader story and the stimulus. they have a demand for loans and restrictions here on residential mortgages. let's get to diana and you know you have been focusing on the home builder sentiment side. does that jive with what steve is reporting. >> despite a surge in the stocks and the nation's home builders are gaining confidence at a much more cautious rate. that is the monthly confidence survey rose to 18 remember there is a line in the survey between positive and negative is 50. we are a ways away from a healthy confidence. the survey covered areas and buyer traffic and sales expectations. traffic up three points and sales really took the biggest jump up four points and builders cite the tax credit for buoying sales and expectations. what happens that? will there be momentum to keep us moving towards a recovery in light of hand widths like a severe credit crunch for loans and inappropriate appraisal practices that are scuttling a quarter of new home sales. granted, most stocks
CNBC
Aug 25, 2009 11:00am EDT
there, for-profit education has been a big place on fire. it's up 10%. phil lebeau has more for us and breaking news on cars. hey, phil. >> we do, rebecca. the cash for clunkers program, the deadline for dealers to file paperwork at the federal government has been extended once again. remember, it was originally supposed to end at 8:00 last night. government said listen, we'll extend it until noon for the dealers to file paperwork. now they're saying until 8:00 tonight. because there's so many dealers trying to get paperwork in on the cash for clunkers deal. medical list, that's the latest on the program. we're still waiting for the final number in terms of how many sales, as well as how much of the $3 billion the government set aside will be used up for cash for clunkers. >> and i'm still waiting for cash for fall handbags and purses. >> cash for clunkers, refrigerators, appliances, washing machines. >> handbags and shoes. i can't wait. it's going to be great. >> i just want to check for the news. >> let's talk more about ben bernanke and his renomination. what does it mean for th
CNBC
Aug 4, 2009 5:00pm EDT
appetite for equity, and anyone who was able to get a deal done, that was it for us. we had forrest city is one we had been short for a long time. they had an offering a month or two ago. we were able to cover on that. i just can't be short when they're able to raise so much money. >> right. let's move on to the next trade, talking the tape today, caterpillar closing up 6%. it reiterated its earnings outlook, the biggest gainer in the dow today. also said it was not sure about the timing of the economic recovery, and yet, still able to make this monster move here. is this too much? are we being too optimistic? >> it probably feels like a little much. after earning, the stocks shot up, now facing $48. maybe it's not too far in front of it self, because if it can reach the upper end of the 2009 projection and if they really are $8 to $10 out five years, this stock is probably a little cheap right now. the options markets, we talked about it, "fast money halftime," and that continued throughout the day. the stock finished on its highs. september, 50 calls, they bought over 28,000 of these o
CNBC
Aug 12, 2009 7:00pm EDT
that uncle sam is borrowing too much and spend doing much, which will slow future prosperity and buy us a system toward inflation. in the short run, excess liquidity from the fed may be good for stocks. in the longer term, it is not good for stocks or the economy, or your pocketbook. that's my take. we will talk about this at several points during the show with our fedex expert and our investors. now, first up, let's look at this triple digit gain and go to rebecca jarvis whose has the inside look at stock market central. hello. >> hello, the two day losing streak comes to an end and stocks hit their high just after the statement. you heard it on the economy. things are leveling out. traders read that as stable day, a hint of optimism. bullish news out of toll brothers. they went up 3.05. and we'll talk about it later on the show. you do see the upside all the home buildersment macy's beat expectations and raised guidance and said the new store concepts based more on regional taste are working. it got a big pop and since the march low, it's already up over 100%. from tech land, upbeat r
CNBC
Aug 6, 2009 2:00pm EDT
. if you waited four hour, it was still a home run trade. interest rates and u.s. in the front of the numbers, sideways a bit lower than they were yesterday. >> brian, before i get to you, i want to follow-up on something this morning. you talked about the financials standing out. i know you have been talking about the volume numbers and financials. extraordinary percentage of nicy trade suggest what peter is saying. if you take city and bank of america, the 25% of the entire volume for the stock exchange today. this you warned was going to happen. you were watching city. the scale of it is pretty incredible. >> 2.8 billion shares of city traded yesterday. not all that was traded on the new york stock exchange. that's the close of the fact that the fact that city increased its waiting. when you are dealing with a stock that was a $20 stock, you get 10 times the volume to get the normal price volume action. >> fair point. what about you, brian? the nasdaq is lower there too. >> i wanted to bring in highlights of sector. the trade has been when oil has been up and alternative ene
CNBC
Aug 31, 2009 9:00am EDT
in the thekd quarter shrank by a more than expected quarter. a lot like u.s., ended up with minus 6 and change from a revised number. hey, we don't have any buybacks until tomorrow. the first of september we'll get a buyback, especially after steve had those great moments with the new york fed governor, dudley. of course, monday nany market participants still say that issuing of debt is a monetization. many don't understand why they don't admit it. as far as the market today, it is trying to annticipate both ap and friday's jobs report. jobs are king. mark haines, back to you. >> santelli, thank you. >>> sell-off in asia overnight which is now impacting us. china's shanghai composite led the pack to the downside dropping 6 3/4%. that is a three-month closing low. the month of august, chinese stocks dropped more than 21%. their second biggest monthly loss in 15 years. hong kong's hang seng lost about 2%. japan's nikkei down .4. after jumping more than 200 points earlier in the session. guy johnson, things a little rocky in europe? >> yes, to say the least, mark. that china story certainly havin
CNBC
Aug 19, 2009 12:00pm EDT
inventory report has its impact on the market, bob pisani kicks us off with our coverage at the new york stock exchange. hi, bob. >> sue, in fact, those inventory levels did, in fact, move the market, moved energy stocks. but first i want to show you the s&p 500 here very quickly. we hit 990 on the s&p, and it moved up very quickly after that. i think that that was a little area that was very important for a number of traders. that's about where we closed yesterday, and so the bottom line here is, a little more volume here in these exchange-traded funds that track that s&p when it hit 990. remember, the volume is still on the thin side. you look at energy stocks, sue is right, oil inventory showed a draw down. and energy stocks, which by the way, have been basically going sideways for the last several months, also took off here. of energy stocks are the biggest sector in the s&p 500 moving to the up side. finally, deere earnings out, had the conference call. the story is pretty simple. they're expecting break-even earnings in this quarter. we were expecting a gain of 35 cents. the reason
CNBC
Aug 29, 2009 6:00am EDT
to have you with us. these are the options action traders at the desk at the home of the world's third largest market in the windy city of chicago and city of brotherly love, philadelphia. stocks closing off their lows but still break an eight-day winning streak, this despite upbeat news out of intel and dell. temporary rest stop or perhaps start of a correction. let's get in the money now to find out. the dash for trash started with citigroup and aig, we could have extensive garbage as aig is joined by fannie and freddie, all up 200% this month alone as the shorts continue to get squeezed. but in options trading, saner heads are prevailing, energy stocks and home builders start to move sharply. this does seem good news for the stock market to see this rally broadening out. >> i think that's true. two things i'm looking at i think are encouraging. the first is seeing bets that volatility will come in. we saw that in the form of somebody who came in and paid for 25 puts and bet volatility will decline. that's a good thing. when volatility comes out of the market, encourages more partici
CNBC
Aug 7, 2009 12:00pm EDT
's probably about where we are at this point. at least we're not going deeper. >> tell us how you think the federal reserve is going to process this information today of somewhat better than expected results and the improvement in the jobs number. >> i think the real issue there is what does that do to the forecast? we know that the forecast was looking for a recovery, or at least beginning to be a pickup in the second half of the year. when you see the jobs numbers flowing like that, i think that confirms their outlook. they'll feel a lot better about it. >> i know you were with the fed. what do you think right now of the fed's ability to get out of this in time? do you think inflation from the current stimulus is a foregone conclusion? no way the fed can pivot at the right time? >> i think they have a real challenge on their hands. there's no question about it. you're going to have a slowing housing market. you're still going to have high unemployment. probably not a lot of signs of inflation. and that's going to be a tough sell to try to raise interest rates. everybody politically is
CNBC
Aug 9, 2009 6:00am EDT
calls traded today in citigroup. it seems to me that it's come quite a ways. it might make sense to use some of your profits in citigroup to protect some of your profits. >> watching wells fargo? >> another name in the bank stocks. bearish activity in the next few days. options traders buying puts in september and october and of course going out and selling calls in august. what does that tell me? some of the rally is yet to hit all of the names in the bank -- wells fargo, what used to be a strong name, still trailing some of the banks there right now. but i do have to say, you take a look at all of the bank names and a lot of them had the sideways actions in the last three months and they're moving up and breaking out of that sideways action. you have to be very careful. it looks like the bank stocks are ready to move higher. >> you think that they're driving the gains that we've seen at this point. >> two emotions here. one emotion, two different times in the little market we've had in the last six months, february, january, march, fear caused the selling. fear of missing the potentia
CNBC
Aug 15, 2009 8:00pm EDT
of us, me, too, saw our interest rates hiked. money out of our pocket. tough new laws on the way, lenders are on a bender. here with the top ways to cut those credit card costs, senor credit himself, john. going nuts. help us out. wei we want to save money. don't want $10 million in their pockets right. >> now what's the first most important thing to save money on credit card? >> they're going ballistic. make yourself bullet-proof against their outrageous fees. first, score. credit score, the number one way to pay less for your credit card. the way to save money on a credit card debt is to pay less for the money itself. in the world of credit scores, max out at 750-plus to translate that into a lower interest rate on a credit card. could mean 7.9% versus something like 24% or 29.9%. >> a great example. if you owed $10,000 on a card and at the 7% level, you're going to pay a certain a interest versus -- more? >> versus an enormous amount. >> yes. >> you can run some of this. with talk about accounts, run sim laces. but in most cases 2 looks $100 to $200, 10% to 20% when your payme
CNBC
Aug 24, 2009 11:00am EDT
, everybody. ben bernanke says the worst behind us, nouri el rabinny says the chances of a double-dip recession are increasing. we will discuss who is right and who is wrong. >> another 150 to 200 banks will fail because of the current credit crisis and will be joining us live with details. this is the call on cnbc. >>> stocks moving higher in continuation of friday's rally on optimism that the worst of the optimism is behind us, not everyone agrees, including nuriel roub beanie. we will be bringing you more on that later. right now the dow up by .7 of a percent, five straight days in a row we are in the black. as for the s & p 500 up. and the nasdaq in the back. black. >> all big three talking about earnings improving in the next years. cash for clunkers expiring today but other programs traders are starting to get interest n you know, there is cash for appliances, part of the rebate program, rather part of the stimulus program here, $a 50 to $200 rebates for high-efficiency appliances supposed to start in the next month or two, appliance shipments a horrible time, down 15% year
CNBC
Aug 25, 2009 7:00pm EDT
will be with us in a moment to help us discuss this, along with john tamney of real clear market. firstoff, pearson joins us now with the full report. was anybody surprised down there, hampton? >> the timing, yes, overall, probably not, president obama interrupting his martha's vineyard vacation to make the announcement appointing ben bernanke as second term of federal reserve. the president said ben bernanke has already made history. >> good morning, everybody. as expert on the causes of the "great depression," i'm sure ben never imagined he would be part of a team responsible for preventing another but because of his background, his temperament, his courage and creativity, that's exactly what he has helped to achieve. that is why i am reappointing him to another term as chairman of the federal reserve. >> and for his part, the fed chairman sounded like he was warming up for his senate confirmation hearing. >> mr. president, i commit today to you, and to the american people that if confirmed by the senate, i will work to the utmost of my abilities, with my colleagues at the federal reserv
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